NEWS
NEWS
"While we have made great strides in deploying our advanced DRAM and NAND technologies,
Time of issue: 2022-03-25
As demand for DRAM memory has been declining and it faces stiff competition from rivals such as Samsung in the NAND market, memory chip maker Micron Technology will cut jobs and reduce projects to cut costs.
Micron's sales have fallen more than expected for three consecutive quarters. The company on Thursday expected a steeper drop in the next quarter.
"While we have made great strides in deploying our advanced DRAM and NAND technologies, we also face a very challenging market environment," said Micron CEO Mark Durcan.
Micron has been ramping up production of more profitable 20nm DRAM memory chips and developing more efficient 3D NAND chips.
However, Micron failed to turn things around. Micron's third-quarter sales fell 24.8% to $2.9 billion, according to Thomson Reuters I/B/E/S. Sales for the current quarter are expected to fall between 11.1% and 19.4%.
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